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TELA Bio
(NASDAQ:TELA)
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Rating:47Neutral
Price Target:
$0.81
▲(15.57% Upside)
Action:Reiterated
Date:09/06/26
The score is held down primarily by weak financial quality—large ongoing losses and cash burn, plus a strained balance sheet with negative equity and meaningful debt. Technical signals are moderately supportive with price above key moving averages and neutral-to-positive momentum, but valuation is not supported by positive earnings and the earnings call added uncertainty after guidance was withdrawn amid PRS-related execution issues. Corporate actions to cut costs may extend runway, but also highlight near-term operational pressure.
Positive Factors
Multi-year revenue scaling
The substantial multi-year revenue increase demonstrates that TELA has commercialized its soft-tissue reconstruction platform and expanded demand beyond an early launch phase. Continued scale, combined with stable gross margins, provides a foundation for future operating leverage if growth execution improves.
Negative Factors
Persistent cash burn
Sustained negative operating and free cash flow means the business is not yet self-funding its operations, despite revenue growth and strong gross margins. Continued cash consumption can restrict investment flexibility and increase reliance on cost reductions, financing, or other measures to support the commercial plan.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year revenue scaling
The substantial multi-year revenue increase demonstrates that TELA has commercialized its soft-tissue reconstruction platform and expanded demand beyond an early launch phase. Continued scale, combined with stable gross margins, provides a foundation for future operating leverage if growth execution improves.
Read all positive factors
TELA Bio (TELA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$36.88M
Dividend YieldN/A
Average Volume (3M)249.72K
Price to Earnings (P/E)―
Beta (1Y)0.90
Revenue Growth6.09%
EPS Growth30.65%
CountryUS
Employees218
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.77
Shares Outstanding44,894,756
10 Day Avg. Volume406,930
30 Day Avg. Volume249,725
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)8.78
Price to Sales (P/S)0.69
P/FCF Ratio-1.93
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$1.67Price Target Upside138.10% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.69
Revenue Forecast (FY)$79.64M
TELA Bio Business Overview & Revenue Model
Company Description
TELA Bio, Inc., a commercial-stage medical technology company, focuses on providing soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patient’s anatomy. The company provide...
How the Company Makes Money
TELA Bio primarily makes money by selling its surgical implants and related surgical instruments to healthcare providers for use in soft-tissue reconstruction procedures. The core revenue stream is product revenue generated from the sale of reinfo...
TELA Bio Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Negative
The call presented a mix of operational positives (12% unit growth, strong international performance, LIQUIFIX momentum, improved gross margin and leadership changes) but was dominated by near-term commercial execution issues: a revenue miss (-4% YoY), a sharp PRS revenue decline (~24%), ASP/mix pressure, extended sales ramp timelines, higher interest expense, and withdrawal of full-year guidance. Management outlined concrete remediation steps (leadership upgrades, training programs, market access improvements, cost reductions) and expressed confidence in second-half recovery, but near-term financial and competitive headwinds are material.Positive Updates
OviTex Unit Volume Growth
Global OviTex unit volume increased 12% year-over-year to ~5.78k units (Q2 2026 vs 5.18k in Q2 2025), indicating procedural share gains despite mix headwinds.
Negative Updates
Total Revenue Miss and Decline
Total revenue for Q2 2026 was $19.3M, down ~4% year-over-year from $20.2M and below company expectations.
Read all updates
Q2-2026 Updates
Positive
Negative
OviTex Unit Volume Growth
Global OviTex unit volume increased 12% year-over-year to ~5.78k units (Q2 2026 vs 5.18k in Q2 2025), indicating procedural share gains despite mix headwinds.
Read all positive updates
Company Guidance
Management withdrew prior full‑year revenue guidance and said it will finalize a plan to meaningfully reduce costs and extend the cash runway (cash $30.4M) — with fundraising a last resort — while remaining optimistic that the second half will be stronger as PRS recovers with retraining and a longer rep ramp (now 9–12 months vs ~6 months prior). Q2 metrics cited: revenue $19.3M (‑4% YoY), OviTex units 5,780 (+12% YoY) and OviTex revenue $13.3M (+0.6%), OviTex PRS revenue $5.5M (vs $7.3M; PRS unit volume down ~23%), international sales $3.8M (+26%), other/LIQUIFIX $0.5M (+39%); gross profit $13.9M and gross margin 72% (70% prior); total operating expense $23.2M (S&M $16.4M, G&A $4.1M, R&D $2.7M); loss from operations $9.3M (vs $9.1M) and net loss $11.3M, with interest expense $2.1M (vs $1.2M prior); management will update guidance after the cost‑alignment plan is finalized.TELA Bio Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
22
Negative
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 79.91M | 80.28M | 69.30M | 58.45M | 41.42M | 29.46M |
| Gross Profit | 54.19M | 54.34M | 46.49M | 40.11M | 27.04M | 18.81M |
| EBITDA | -33.12M | -32.35M | -31.68M | -40.63M | -39.06M | -29.14M |
| Net Income | -41.18M | -38.83M | -37.84M | -46.66M | -44.30M | -33.28M |
Balance Sheet | ||||||
| Total Assets | 59.74M | 81.42M | 87.33M | 78.05M | 67.86M | 62.54M |
| Cash, Cash Equivalents and Short-Term Investments | 30.42M | 50.84M | 52.67M | 46.73M | 42.02M | 43.93M |
| Total Debt | 56.61M | 55.65M | 43.06M | 42.77M | 41.46M | 31.49M |
| Total Liabilities | 75.60M | 75.11M | 58.87M | 59.17M | 53.55M | 42.45M |
| Stockholders Equity | -15.87M | 6.31M | 28.46M | 18.88M | 14.30M | 20.10M |
Cash Flow | ||||||
| Free Cash Flow | -31.62M | -28.67M | -42.58M | -41.47M | -42.62M | -31.06M |
| Operating Cash Flow | -31.14M | -28.22M | -41.59M | -40.86M | -40.75M | -30.43M |
| Investing Cash Flow | 933.00K | 846.00K | 4.45M | -599.00K | -1.87M | -627.00K |
| Financing Cash Flow | 25.56M | 25.75M | 43.06M | 46.27M | 40.85M | 585.00K |
TELA Bio Technical Analysis
Positive
0.70
Price Trends
0.74
Positive
0.80
Positive
0.86
Negative
Market Momentum
<0.01
Negative
59.18
Neutral
57.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TELA, the sentiment is Positive. The current price of 0.7 is below the 20-day moving average (MA) of 0.71, below the 50-day MA of 0.74, and below the 200-day MA of 0.86, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 59.18 is Neutral, neither overbought nor oversold. The STOCH value of 57.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TELA.
TELA Bio Risk Analysis
TELA Bio disclosed 78 risk factors in its most recent earnings report. TELA Bio reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
TELA Bio Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $94.92M | -1.92 | -96.66% | ― | -3.43% | 19.16% | |
47 Neutral | $36.88M | -1.07 | 1248.13% | ― | 6.09% | 30.65% | |
47 Neutral | $52.51M | -3.40 | -34.09% | ― | -53.40% | -1719.88% | |
47 Neutral | $14.75M | -1.77 | -126.45% | ― | -1.67% | 7.34% | |
46 Neutral | $22.00M | -1.22 | -445.14% | ― | 8.64% | -60.99% | |
46 Neutral | $7.64M | -0.33 | -174.26% | ― | 41.62% | 20.47% |
* Healthcare Sector Average
TELA
TELA Bio
0.82
-0.80
-49.32%
CTSO
Cytosorbents
0.35
-0.63
-64.36%
SRTS
Sensus Healthcare
3.19
-0.04
-1.24%
NMTC
NeuroOne Medical Technologies
1.62
-3.48
-68.24%
LUNG
Pulmonx
2.21
0.51
30.00%
ICCM
Icecure Medical
2.23
-29.27
-92.92%
TELA Bio Corporate Events
Business Operations and StrategyExecutive/Board Changes
TELA Bio Implements Workforce Cuts and Leadership Changes
Negative
Aug 31, 2026
On August 28, 2026, TELA Bio’s board approved a workforce reduction plan cutting headcount by about 20%, from 201 to 160 employees, as part of a strategic initiative to lower operating expenses and preserve capital for driving product sales ...
Business Operations and StrategyExecutive/Board Changes
TELA Bio appoints Heather Getz as new CEO
Neutral
Aug 4, 2026
On August 3, 2026, TELA Bio’s board removed Antony Koblish as chief executive officer and principal executive officer and accepted his resignation as a director, effective that day, treating his departure as a termination without cause and i...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
TELA Bio Shareholders Expand Equity Incentive Plan Authorization
Positive
Jun 11, 2026
On June 9, 2026, TELA Bio stockholders approved an amendment to the company’s Amended and Restated 2019 Equity Incentive Plan, increasing the authorized shares issuable under the plan by 3,500,000 shares, with the amendment becoming effectiv...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.